Financial Assistance, Costs and Payment Options for Eldercare in New Mexico

Introduction:
This webpage is intended to assist New Mexico residents in better understanding the costs associated with elderly care, including adult day care, assisted living, and home care throughout the state. Programs that assist individuals and families in providing senior care, whether it is financial assistance or care support, will also be explored.

The programs outlined on this page are inclusive of all the programs offered by the state of New Mexico. However, there are also programs that offer assistance for elderly care at a national level. When exploring options for care assistance, it’s important to explore all avenues of assistance to find the program that is most ideal for the given situation. Please use our Resource Locator Tool to search for national programs.

 

Cost of Care Calculator

Answer the questions below to see the cost of care in your area.

1
2
3

 

1
2
3
4
*By clicking submit, you agree to PayingforSeniorCare.com’s agreement to be contacted by telephone. Be cognizant that some organizations may use auto-dial technology to make contact.

New Mexico Elder Care Costs

Assisted Living / Memory Care

In New Mexico, in 2017, the cost of assisted living ranges from $2,050 - $6,050 / month, with the average rate being $3,650 / month throughout the state. The most affordable assisted living is found in the city of Albuquerque, with a monthly average of $3,450 and a range between $2,050 and $4,850. Farmington is on par with the statewide average at $3,650 / month, although the monthly range is between $2,550 and $4,050. The most costly assisted living is in the areas of Las Cruces ($2,950 - $6,050 / month, with the average at $3,745 / month) and Santa Fe ($3,650 - $5,875 / month, with the average at $4,405 / month). There are also Memory Care units for seniors that offer a higher degree of care and supervision due to Alzheimer’s or a related dementia. On average, this type of care costs an additional $850 - $1,050 / month. 

Home Care

In 2017, the hourly rate for home care across New Mexico ranges from $11.50 - $28.50, though the average hourly rate is $21.25 statewide. However, depending on the geographic location, this hourly average rate varies quite a bit. The most affordable home care can be found in El Paso-Las Cruces, with an average of $17.50 / hour. Farmington is also below the statewide hourly average at approximately $19.50 / hour. The most costly home care is found in the city of Santa Fe at $26.50 / hour. Home health care, provided by trained health professionals, offers another option for seniors who need a higher level of care. On average, this type of assistance costs $1.50 - $2.50 / hour more than does home care.

Adult Day Care

When considering senior care, adult day care is one of the most affordable options in New Mexico. As of 2017, the average daily cost throughout the state is $79. The most costly adult day care is found in Farmington, with an average of $130 / day, and in Albuquerque, with an average of $106 / day. However, in Farmington the average daily rate is consistent at $130 / day, and in Albuquerque, the daily rate ranges from $79 to $138. Make note, adult day care is often billed in half-day increments, rather than by the hour or the day.

 

 

New Mexico Financial Assistance Programs

Medicaid Programs for the Elderly

In New Mexico, the Medicaid program is called Centennial Care and is a managed care program. Via this program, nursing home care is provided, in addition to some personal care assistance.

Prior to the transition to a managed care program in 2014, the state offered two Medicaid Waiver programs, the CoLTS C Waiver and the Mi Via Waiver. However, similar care services and self-direction of care are now offered through Centennial Care via the Community Benefit.

Community Benefit provides long-term care services for seniors in order to assist them in aging in place, rather than require nursing home placement. Services may include personal care assistance, adult day care, respite care, personal emergency response systems, private duty nursing, and more. With Community Benefit, there is an option for Self-Directed Community Benefit (SDCB) care, which means eligible applicants are able to choose their own care provider, including some family members.

Eligibility
In order to be eligible for Medicaid in New Mexico, there are both income and asset restrictions. As of 2017, seniors must not have a monthly income in excess of $2,205. This amount is currently equivalent to 300% of the Federal Benefit Rate. The countable asset limit is set at $2,000 and excludes an individual’s home, if valued under $840,000 and the individual lives in it. Persons exceeding these limits may still gain eligibility by working with a Medicaid Planner.   Learn more.

 

State (Non-Medicaid) Assistance Programs

Elderly residents of New Mexico may also receive non-Medicaid Services for Seniors via the Older Americans Act. These services, which are intended to promote the independence of elderly individuals and aging in place, are offered via two local Area Agencies on Aging (AAA). However, services may vary based on the geographic area in which the AAA office serves. Benefits may include meal services, adult day care, in-home respite care, transportation assistance, and homemaker services. Learn more.

The MEDBANK Prescription Drug Assistance program offers financial assistance for brand name prescription drugs.  More.

 

Other Financial Options for Care

In addition to the state specific programs that assist in covering the cost of elderly care in New Mexico, there are also federal and non-profit programs available. In order to find other programs that assist in paying for care or reduce your out-of-pocket cost, make sure to use our Resource Locator Tool.  This tool makes it easy to locate and consider all of your options and choose the program that best fits the circumstances. Eldercare loans and programs that aid veterans with assisted living are other available options.

 

Finding Affordable Care

As one can see, the cost of elderly care has quite a large range throughout the state of New Mexico. In order to locate the most affordable, high quality care for one’s needs, it is important to reach out to multiple providers in the search for care. Our organization has paired with multiple organizations to assist in this endeavor and has created a service that is free to use. Click here to find affordable care